EANS-News: Lenzing AG
Lenzing Invests More Than EUR 100 Million in New
Production Capacities for Specialty Fibers in Austria
--------------------------------------------------------------------------------
Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
--------------------------------------------------------------------------------
Company Information
* Expansion of capacities for specialty fibers by 35,000 tons by mid 2018
* About 70 mn Euro of investments in Heiligenkreuz and 30 mn Euro at the Lenzing
site
* Strategic importance of Heiligenkreuz as site for TENCEL® premium fibers
underpinned
The Lenzing Group is expanding its capacities for specialty fibers. Particularly
the importance of the manufacturing facility in Heiligenkreuz, Burgenland, is
underpinned. Further investments will be made as well at the production site in
Lenzing. "We will invest more than 100 million Euro over the next 20 months to
expand production capacities for our high-quality botanic fibers, 70% at the
Heiligenkreuz site and 30% at Lenzing", says Lenzing's CEO Stefan Doboczky.
"Given the strong market demand this expansion will help our customers in their
growth plans as well as expanding our global market leadership position for
speciality fibers."
As part of its new group strategy sCore TEN, Lenzing set the target of
increasing the share of specialty fibers as a proportion of its total revenue to
50% by the year 2020. Specialty fibers currently account for 41.7% of revenue.
The planned capacity expansion of 35,000 tons of specialty fibers at the sites
in Heiligenkreuz and Lenzing, as well as at the site in Grimsby, Great Britain,
is the first step of the announced speciality fiber expansion program of Lenzing
AG. Customers will be able to take advantage of some 10,000 tons of specialty
fiber capacity already by the end of this year.
The major part of investments will be carried out in the years 2016 and 2017.
The Lenzing Group will fully utilize its in house engineering competence,
supported by local construction companies and suppliers for these projects. The
investment in Heiligenkreuz will create 25 new jobs (full-time equivalents).
Lenzing AG decided to start its investment program for speciality fibers at its
existing sites in Austria and the UK as it allows fast capacity ramp up. The
strategic role of the Heiligenkreuz site as a key location of new types of
TENCEL® premium fibers developeddeveloped by researchers and application
engineers in Lenzing in cooperation with customers is strongly underpinned.
Further inquiry note:
Lenzing AG
Mag. Waltraud Kaserer
Tel.: +43 (0) 7672-701-2713
Fax: +43 (0) 07672-96301
mail to:w.kaserer@lenzing.com
end of announcement euro adhoc
--------------------------------------------------------------------------------
company: Lenzing AG
A-A-4860 Lenzing
phone: +43 7672-701-0
FAX: +43 7672-96301
mail: office@lenzing.com
WWW: http://www.lenzing.com
sector: Chemicals
ISIN: AT0000644505
indexes: WBI, ATX, Prime Market
stockmarkets: official market: Wien
language: English
Original content of: Lenzing AG, transmitted by news aktuell